"**That all millionaires were persistent, hardworking people does not make persistent hard workers become millionaires: Plenty of unsuccessful entrepreneurs were persistent, hardworking people.** In a textbook case of naive empiricism, the author also looked for traits these millionaires had in common and figured out that they shared a taste for risk taking. **Clearly risk taking is necessary for large success—but it is also necessary for failure. Had the author done the same study on bankrupt citizens he would certainly have found a predilection for risk taking**." --- **Tags** -- [[quotes]], [[failure]], [[resilience]], [[adversity]], [[fooled-by-randomness]], [[causation]], [[entrepreneur]], **Source** -- [[202410121132 - B - Fooled by Randomness]] **See Also** -- [[202410121151 - AtN - We tend to dismiss the unfavourable side of risk-taking]]